IBERIABANK (IBKC) Given a $85.00 Price Target at Stephens

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Stephens set a $85.00 price objective on IBERIABANK (NASDAQ:IBKC) in a research report sent to investors on Tuesday morning. The brokerage currently has a hold rating on the bank’s stock.

IBKC has been the subject of a number of other research reports. ValuEngine upgraded shares of IBERIABANK from a sell rating to a hold rating in a research note on Thursday, July 19th. BidaskClub upgraded shares of IBERIABANK from a sell rating to a hold rating in a research note on Saturday, July 21st. Finally, Zacks Investment Research upgraded shares of IBERIABANK from a hold rating to a buy rating and set a $93.00 price target for the company in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $87.33.

Shares of NASDAQ IBKC traded down $0.83 during trading on Tuesday, reaching $76.23. 314,925 shares of the stock were exchanged, compared to its average volume of 492,564. IBERIABANK has a twelve month low of $68.55 and a twelve month high of $87.55. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The stock has a market cap of $4.27 billion, a P/E ratio of 17.05, a PEG ratio of 1.46 and a beta of 1.36.

IBERIABANK (NASDAQ:IBKC) last posted its earnings results on Friday, October 19th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.06. IBERIABANK had a net margin of 18.32% and a return on equity of 9.38%. The business had revenue of $312.30 million for the quarter, compared to analysts’ expectations of $311.77 million. During the same period in the previous year, the company posted $1.00 earnings per share. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, research analysts expect that IBERIABANK will post 6.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Monday, December 31st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, December 28th. This is a positive change from IBERIABANK’s previous quarterly dividend of $0.39. IBERIABANK’s payout ratio is 34.90%.

A number of hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC boosted its holdings in shares of IBERIABANK by 26.1% during the second quarter. Aperio Group LLC now owns 4,388 shares of the bank’s stock valued at $333,000 after acquiring an additional 907 shares during the period. LSV Asset Management lifted its holdings in IBERIABANK by 24.4% in the second quarter. LSV Asset Management now owns 103,400 shares of the bank’s stock worth $7,837,000 after purchasing an additional 20,300 shares during the period. Millennium Management LLC lifted its holdings in IBERIABANK by 25.2% in the second quarter. Millennium Management LLC now owns 2,277,140 shares of the bank’s stock worth $172,607,000 after purchasing an additional 458,810 shares during the period. Federated Investors Inc. PA lifted its holdings in IBERIABANK by 30.1% in the second quarter. Federated Investors Inc. PA now owns 533,358 shares of the bank’s stock worth $40,429,000 after purchasing an additional 123,542 shares during the period. Finally, Summit Financial Wealth Advisors LLC lifted its holdings in IBERIABANK by 31.0% in the third quarter. Summit Financial Wealth Advisors LLC now owns 12,331 shares of the bank’s stock worth $957,000 after purchasing an additional 2,917 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.

About IBERIABANK

IBERIABANK Corporation operates as the holding company for IBERIABANK that provides commercial and retail banking products and services in the United States. It offers various commercial, consumer, mortgage, and private banking products and services; cash management services; deposit and annuity products; and brokerage services, as well as sells variable annuities.

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Analyst Recommendations for IBERIABANK (NASDAQ:IBKC)

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